The Wall Street Journal

Julius Baer Books Loan Loss Charge as New Management Pushes for Turnaround

The bank has been trying to move on from the collapse of Signa, the now-insolvent real estate group

Julius Baer’s assets under management stood at 467 billion Swiss francs at the end of the first four months of the year.
Julius Baer’s assets under management stood at 467 billion Swiss francs at the end of the first four months of the year. Photo: denis balibouse/Reuters

Julius Baer booked another substantial loan loss charge as its new leadership team reviews credit portfolios to move past a scandal that led to a major writedown and cost the former CEO his job.

The Zurich-based group announced late Tuesday a 130 million Swiss francs ($157 million) impairment linked to its private debt book and some positions in its mortgage book that it said reflects the application of more prudent criteria to credit quality and client relationships.

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